NEW YORK - One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion buy-in.
Marlboro maker Altria Group Inc. is taking a 45 per cent stake in Cronos Group, the Canadian medical and recreational marijuana provider said Friday.
Altria will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 per cent ownership stake in the Toronto company.
That would mean Altria's investment would be in the same league as the $4 billion spent earlier this year by Constellation Brands to acquire shares of Canopy Growth Corp., another...Read more ...

Altria Group Inc., one of the world's biggest tobacco companies, is diving into the cannabis market with a $2.4 billion buy-in. The Marlboro cigarette maker is taking a 45% stake in Cronos Group Inc., the Canadian medical and recreational marijuana provider said Friday. Altria will pay an additional...Read more ...

One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. Altria, parent company of Philip Morris, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company. Cronos said Friday that the Richmond, Va.,...Read more ...

NEW YORK - One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company.
Altria, which makes Marlboro cigarettes, is taking a 45 percent stake in the Toronto company.
Cronos said Friday that the Richmond, Virginia, tobacco company will pay another $1.4 billion for warrants that if exercised, would give the Altria a 55 percent majority ownership stake.
Cronos first announced that it was in talks with Altria this week.Read more ...

One of the world's biggest tobacco companies is diving into the cannabis market with a $2.4 billion investment in Cronos Group, a Canadian medical and recreational marijuana company. Altria, which...Read more ...